Teacher Retirement System of Texas cut its stake in shares of Camden Property Trust (NYSE:CPT) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,465 shares of the real estate investment trust’s stock after selling 9,506 shares during the period. Teacher Retirement System of Texas’ holdings in Camden Property Trust were worth $7,052,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Camden Property Trust by 1.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,743 shares of the real estate investment trust’s stock valued at $2,152,000 after buying an additional 446 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Camden Property Trust by 9.2% in the first quarter. Goldman Sachs Group Inc. now owns 993,562 shares of the real estate investment trust’s stock valued at $79,942,000 after buying an additional 83,759 shares during the last quarter. Fisher Asset Management LLC raised its stake in Camden Property Trust by 0.6% in the second quarter. Fisher Asset Management LLC now owns 31,204 shares of the real estate investment trust’s stock valued at $2,668,000 after buying an additional 192 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Camden Property Trust by 31.8% in the first quarter. Russell Investments Group Ltd. now owns 510,173 shares of the real estate investment trust’s stock valued at $41,047,000 after buying an additional 123,027 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC bought a new stake in Camden Property Trust during the first quarter valued at about $3,557,000. 94.78% of the stock is owned by institutional investors and hedge funds.
Shares of Camden Property Trust (CPT) opened at 90.17 on Tuesday. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $90.83. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 20.17 and a beta of 0.37. The company’s 50 day moving average price is $87.70 and its 200-day moving average price is $84.07.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $222.44 million. During the same period in the prior year, the firm posted $1.15 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. Analysts anticipate that Camden Property Trust will post $1.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, June 28th. Camden Property Trust’s dividend payout ratio is presently 67.11%.
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CPT has been the subject of several analyst reports. BMO Capital Markets set a $81.00 price objective on Camden Property Trust and gave the company a “hold” rating in a research note on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Camden Property Trust in a research note on Sunday, July 16th. Barclays PLC raised their price objective on Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Evercore ISI raised Camden Property Trust from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $87.00 to $90.00 in a research note on Thursday, May 18th. They noted that the move was a valuation call. Finally, BTIG Research raised Camden Property Trust from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.42.
In related news, EVP William W. Sengelmann sold 5,085 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $90.15, for a total value of $458,412.75. Following the transaction, the executive vice president now directly owns 71,836 shares in the company, valued at $6,476,015.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President D Keith Oden sold 86,540 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $89.43, for a total value of $7,739,272.20. The disclosure for this sale can be found here. Insiders sold 120,811 shares of company stock worth $10,812,185 over the last quarter. 4.70% of the stock is currently owned by insiders.
Camden Property Trust Company Profile
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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